This year, major healy paid $34,750 of interest on a mortgage on his home (he borrowed $695,000 to buy the residence in 2015; $795,000 original purchase price and value at purchase), $5,250 of interest on a $105,000 home equity loan on his home (loan proceeds were used to buy antique cars), and $7,250 of interest on a mortgage on his vacation home (borrowed $145,000 to purchase the home in 2010; home purchased for $362,500). major healy’s agi is $220,000. how much interest expense can major healy deduct as an itemized deduction?

mary's baskets company expects to manufacture and sell 30,000 baskets in 2019 for $5 each. there are 4,000 baskets in beginning finished goods inventory with target ending inventory of 4,000 baskets. the company keeps no work-in-process inventory. what amount of sales revenue will be reported on the 2019 budgeted income statement?

What legislation increased the ability for federal authorities to tap telephones and wireless devices, tightened the enforcement of money laundering activities, as well as broadened powers toward acts of terrorism and acts such as drug trafficking?

Rate of return douglas keel, a financial analyst for orange industries, wishes to estimate the rate of return for two similar-risk investments, x and y. douglas's research indicates that the immediate past returns will serve as reasonable estimates of future returns. a year earlier, investment x had a market value of $27 comma 000; and investment y had a market value of $46 comma 000. during the year, investment x generated cash flow of $2 comma 025 and investment y generated cash flow of $ 6 comma 770. the current market values of investments x and y are $28 comma 582 and $46 comma 000, respectively. a. calculate the expected rate of return on investments x and y using the most recent year's data. b. assuming that the two investments are equally risky, which one should douglas recommend? why?